Are you planning to buy flats in Kolkata but now sure how to choose the best one for you? Property is the biggest asset of your life – take time to evaluate all the important factors before making the final investment. While Kolkata is coming up with new flats packed with lucrative amenities, there are several parameters you need to consider. In this article, we have shortlisted some of the key pointers that you should be mindful of before getting hold of your new apartment.

Fix your budget –

The most important thing you should keep in mind is to fix the budget. This way, you’ll be able to shortlist the property that falls within your estimated budget.

Check out the carpet area –

Before investing in a property, you need to check the actual carpet area of the space. Do not get fooled by the super built-up area. This will include all of the components – common space, staircase, lobby, etc. Therefore, the carpet area will always be less than the super built-up area. For instance, if your flat has a super built-up area of 750 square meters, the carpet space can be around 500 to 550 square meters. So make sure you check the carpet area before choosing.

Legal status –

Understanding the legal status is important when you buy flats in Kolkata. Below mentioned is a list of things that will determine the legality of the property.
  • Approvals and NOC from Area Development Authorities, Municipal Corporation, Water Supply and Sewerage Board.
  • Title deed
  • Should be HIRA and CREDAI certified

Bank partners tied up with the project –

When it comes to financing, you need to look for banks that are approved by the developer. Most banks are suspicious while funding a real estate project. So check out the banks that are approved by the project. However, you can also check out other banks offering the lowest interest rates.

Choose a trustworthy realtor –

Make extensive research on the builder before investing in a property. You can use online resources to perform the research. Get a clear idea of the past and the ongoing projects. You may also post queries on the real estate forums to get feedback.

Choose the right payment plan –

The company will provide various payment terms and plans for you. This includes – flexible-payment plans, down-payment plans, possession-linked plans, etc. Discuss with your real estate company in Kolkata the pros and cons of each of the plans. Go for the one that proves to be the best for you. Just make sure that you pay the down payment and the EMI on time.

Check the agreement –

When you finally select a flat, a token amount needs to be paid as the booking fee. The builder will give you an agreement paper which is the buyer-builder agreement. Understand carefully each of the agreements before putting your signature on it. The agreement might include terms and conditions which may not be suitable for you. So make sure you go through the points carefully before sealing the deal.